MNT.TO vs. VALT-U.TO

Last updated Jul 18, 2026

MNT.TO (Royal Canadian Mint - Canadian Gold Reserves) and VALT-U.TO (CI Gold Bullion ETF (US$ Series)) are both Gold funds. Over the past 5 years, MNT.TO returned 19.96%/yr vs 19.56%/yr for VALT-U.TO. At a 0.43 correlation, their price movements are largely independent.

Performance

MNT.TO vs. VALT-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) and CI Gold Bullion ETF (US$ Series) (VALT-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MNT.TO is traded in CAD, while VALT-U.TO is traded in USD. To make them comparable, the VALT-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MNT.TO achieves a -8.23% return, which is significantly lower than VALT-U.TO's -5.00% return.

MNT.TO

• 1D: 0.73%
• 1M: -4.35%
• 6M: -15.01%
• YTD: -8.23%
• 1Y: 15.98%
• 3Y*: 28.68%
• 5Y*: 19.96%
• 10Y*: 12.05%

VALT-U.TO

• 1D: 0.27%
• 1M: -6.43%
• 6M: -11.66%
• YTD: -5.00%
• 1Y: 22.96%
• 3Y*: 28.97%
• 5Y*: 19.56%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MNT.TO vs. VALT-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MNT.TO Royal Canadian Mint - Canadian Gold Reserves	-8.23%	61.23%	44.81%	3.61%	10.52%	-12.67%
VALT-U.TO CI Gold Bullion ETF (US$ Series)	-5.00%	57.87%	36.96%	10.73%	5.35%	-0.94%

Correlation

The correlation between MNT.TO and VALT-U.TO is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jan 14, 2021	0.43

Over the past year, MNT.TO and VALT-U.TO have become more correlated (0.72) than their long-term average of 0.43, meaning their price movements have been converging.

Return for Risk

MNT.TO vs. VALT-U.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MNT.TO

MNT.TO Risk / Return Rank: 19
MNT.TO Sharpe Ratio Rank: 19
MNT.TO Sortino Ratio Rank: 20
MNT.TO Omega Ratio Rank: 21
MNT.TO Calmar Ratio Rank: 18
MNT.TO Martin Ratio Rank: 17

VALT-U.TO

VALT-U.TO Risk / Return Rank: 22
VALT-U.TO Sharpe Ratio Rank: 20
VALT-U.TO Sortino Ratio Rank: 22
VALT-U.TO Omega Ratio Rank: 32
VALT-U.TO Calmar Ratio Rank: 18
VALT-U.TO Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MNT.TO vs. VALT-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) and CI Gold Bullion ETF (US$ Series) (VALT-U.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MNT.TO	VALT-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.51	0.56	-0.05
Sortino ratio: Return per unit of downside risk	0.89	1.05	-0.16
Omega ratio: Gain probability vs. loss probability	1.12	1.19	-0.07
Calmar ratio: Return relative to maximum drawdown	0.56	0.63	-0.07
Martin ratio: Return relative to average drawdown	1.23	1.46	-0.23

MNT.TO vs. VALT-U.TO - Sharpe Ratio Comparison

The current MNT.TO Sharpe Ratio is 0.51, which is comparable to the VALT-U.TO Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of MNT.TO and VALT-U.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MNT.TO vs. VALT-U.TO - Drawdown Comparison

The maximum MNT.TO drawdown since its inception was -34.79%, smaller than the maximum VALT-U.TO drawdown of -36.84%. Use the drawdown chart below to compare losses from any high point for MNT.TO and VALT-U.TO.

Drawdown Indicators

	MNT.TO	VALT-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-34.79%	-36.84%	+2.05%
Max Drawdown (1Y) Largest decline over 1 year	-28.55%	-36.84%	+8.29%
Max Drawdown (3Y) Largest decline over 3 years	-28.55%	-36.84%	+8.29%
Max Drawdown (5Y) Largest decline over 5 years	-28.55%	-36.84%	+8.29%
Max Drawdown (10Y) Largest decline over 10 years	-33.58%	—	—
Current Drawdown Current decline from peak	-26.86%	-36.67%	+9.81%
Average Drawdown Average peak-to-trough decline	-15.91%	-5.85%	-10.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.98%	15.79%	-2.81%

Volatility

MNT.TO vs. VALT-U.TO - Volatility Comparison

Royal Canadian Mint - Canadian Gold Reserves (MNT.TO) has a higher volatility of 6.80% compared to CI Gold Bullion ETF (US$ Series) (VALT-U.TO) at 6.19%. This indicates that MNT.TO's price experiences larger fluctuations and is considered to be riskier than VALT-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNT.TO	VALT-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	6.19%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	26.01%	38.76%	-12.75%
Volatility (1Y) Calculated over the trailing 1-year period	31.25%	41.34%	-10.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.55%	23.09%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.63%	22.45%	-2.82%

Dividends

MNT.TO vs. VALT-U.TO - Dividend Comparison

Neither MNT.TO nor VALT-U.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MNT.TO and VALT-U.TO in my portfolio?

MNT.TO and VALT-U.TO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.